$NEIRO (Neiro Ethereum) Seems to Be in an Accumulation Phase According to Our Latest On-Chain Data

According to recent on-chain data, $NEIRO (Neiro Ethereum) is showing signs of being in an accumulation phase, with several large whales increasing

As interest from whales continues to rise, $NEIRO could soon gain more widespread attention across the crypto space.

According to our latest on-chain data, several large whales have been accumulating significant amounts of $NEIRO (Neiro Ethereum) in recent weeks. This development could indicate an upcoming rally in the token's price.

One of the most active whales, 0x6ab, quickly accumulated 17.7 million $NEIRO in the last seven days, purchasing the token at an average price of $0.086. In comparison, whale 0x9Ba bought 17.5 million $NEIRO on September 6 at a higher price of $0.154. Notably, this whale has had varying success with different tokens, faring well with $FET but not as well with meme coins like $NEIRO.

$NEIRO (Neiro Ethereum) seems to be in an accumulation phase according to our latest on-chain data:

1/ Whale 0x6ab accumulated 17.7M $NEIRO in the last 7 days at an average price of $0.086.

2/ Whale 0x9Ba bought 17.5M $NEIRO on Sept 6 at $0.154. While profitable with $FET, this… pic.twitter.com/z1b5pM6NSo

— Spot On Chain (@spotonchain) September 27, 2024

Whale 0xAB5 has been dollar-cost averaging (DCA) into $NEIRO over the past month, amassing 6 million tokens at an average price of $0.128. This whale previously made significant profits with $PEPE, suggesting a strong understanding of meme coin trends.

On the other hand, whale 0x1ED quickly accumulated 8.6 million $NEIRO at $0.116 but has already sold some of its position at a loss, with 5.6 million tokens remaining. This whale has had better success with assets like $ETHFI, $SYN, and $PENDLE in the past.

Market maker Wintermute still holds a substantial position in $NEIRO, with 52.97 million tokens valued at approximately $4.97 million, accounting for 5.3% of the total supply.

With a market cap still below $100 million and increasing decentralization over the past few weeks, there is speculation about whether Binance will consider listing $NEIRO on its spot market.

This development could significantly boost the token's liquidity and trading volume, potentially leading to a broader rally in its price.